Category: Top National News

Reuters, June 1, 2017The Federal Reserve bought $4.1 billion of agency mortgage-backed securities in the week from May. 25 to May. 31, compared with $5.2 billion purchased the previous week, the New York Federal Reserve Bank said on Thursday.

New York Times, June 2, 2017–Vivian MarinoAn increasing number of older Americans prefer to have a mortgage. Some lenders can be more flexible than others. “I encourage people to shop at least three lenders,” said David H. Stevens, the president of the Mortgage Bankers Association, “and then likewise, ask real estate agents or financial planners, who are good resources for helping a retiree.”

National Mortgage Professional, June 2, 2017–Phil HallDelinquency rates for commercial and multifamily mortgage loans were saw mostly unchanged or down slightly during the first quarter, according to the Mortgage Bankers Association’s Commercial/Multifamily Delinquency Report.

Washington Times, June 4, 2017–David SherfinskiCongressional Republicans say they will preserve popular tax breaks for charitable giving and mortgage interest, but advocacy groups say even if they aren’t directly targeted, nonprofits and the housing industry are likely to take hits. Some analysts are anticipating as much as a 10 percent drop in home prices if Republicans go ahead with its tax plans, which would flatten out the system.

National Mortgage News, June 2, 2017–John Heltman (subscription)The Consumer Financial Protection Bureau is in the direct crosshairs of a federal lawsuit questioning the bureau’s leadership structure. But in a larger context, it might be the independence of all federal agencies on trial.

Washington Post Writers Group, June 4, 2017–Kenneth R. HarneyAccording to a new study of 30 million credit files by score developer FICO, many Americans will experience bumps in the coming months, mainly modest increases of less than 20 points. But hundreds of thousands of the increases will be super-sized–in the range of 40 to 60 points and higher.

Wall Street Journal, June 2, 2017–Andrew Scurria (subscription)Officials representing 244 mortgage-backed securities trusts have largely accepted a settlement offer Thursday that puts a floor of $2.4 billion, subject to a judge’s approval, on claims against the Lehman bankruptcy estate.

HousingWire, June 2. 2017–Ben LaneAccording to the S&P report, 2017’s total RMBS-related issuance, which S&P defines as prime, re-performing/nonperforming, rental bonds, servicer advances, and risk-sharing deals, sat at $27 billion at the end of May.

Mortgage Daily, June 2, 2017Performance on securitized commercial real estate loans was worse in any month since 2015, said Morningstar Credit Ratings LLC.

Los Angeles Times, June 4, 2017–Andrew KhouriConsumer groups, regulators and lawmakers are increasingly raising concerns about Property Assessed Clean Energy loan programs, which are authorized by governments but largely administered and funded by private lenders.